Spirit Airlines projects a €203m net profit in 2027 after a Chapter 11 restructuring, following net losses of €746m in 2025 and €134m in 2026.
The airline will reduce its fleet by shedding leased A320neo and A321neo aircraft, saving €2.8 billion in debt and €371m in annual rent. Spirit owns 30 A320-200s and 27 A321-200s, but 38 neo aircraft are parked due to Pratt & Whitney engine issues, with more expected to be grounded.
Cost-saving measures include workforce reductions (€196m annually), renegotiated maintenance contracts (€114m), and lower airport rents (€108m).
The carrier plans a 20pc capacity reduction in 2026, resuming 9pc growth in 2027, with €1.23 billion in debtor-in-possession financing to support restructuring.
Spirit Airlines shared in a written statement: “The current Chapter 11 process is focused on fully transforming the company, ensuring a viable go-forward business. The carrier’s network was recently operated with between 140 and 144 aircraft.”
